– 54 metre road frontage (approx.) on a prominent corner site.
– Two fee simple titles consisting of 1,424 square metres.
– The option to yield vacant possession in September 2021 with holding income in the mean time.
– A favourable Business – Local Centre Zoning.
This prominent site sits upon the corner of Lake Road and Egremont Street in the heart of Belmont’s commercial strip on Auckland’s North Shore. The property is in close proximity to some of Auckland’s more affluent residential stock, such as Seacliffe Avenue, Devonport and Clifton Road. Public transport options include bus services to Takapuna and two ferry options to the city being Bayswater and Devonport terminals.
With all tenants having their final expiry in September 2021 you will be able to collect the holding income whilst planning your next move. The zoning, location, lease terms and underdeveloped site would suggest a mixed use redevelopment in 2021, however if your horizon is longer term then the option to extend current lease terms and increase the rental may suit.
The “L shape” offering has substantial road frontage and underdeveloped land which will allow for a variety of commercial, retail and residential developments. Belmont has limited supply and strong demand for land holdings of this size, profile and zoning.
This is being offered for sale by way of deadline private treaty closing 4pm Thursday 31st October 2019 (Unless sold prior).
Please feel free to contact the sole agents for further information.